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Leading the News

NEW EXPLAINER VIDEO: How The 20% Small Business Tax Deduction Affects Main Street (12/11/2024)

WASHINGTON, D.C. (Dec. 11, 2024) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, released a new video explaining how the expiring 20% Small Business Tax Deduction works and the positive effects if Congress makes it permanent by passing the Main Street Tax Certainty Act. The video explains how this crucial deduction helps Main Street and levels the playing field between small businesses and their large corporate competitors.

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Business Climate

NFIB Jobs Report: Small Business Labor Costs Rise in November (12/05/2024)

WASHINGTON, D.C. (Dec. 5, 2024) – NFIB’s November jobs report found that 36% (seasonally adjusted) of small business owners reported job openings they could not fill in November, up one point from October. Labor costs reported as the single most important problem for business owners rose three points to 11%, only two points below the highest reading of 13% reached in December 2021.

“As the overall job market softens, hiring among small businesses remains a struggle,” said NFIB Chief Economist Bill Dunkelberg. “Main Street owners continue to feel pressure to raise compensation at historically high levels to attract and retain workers.”

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Wages and Benefits

Small Business Lawsuit Stops Onerous Overtime Threshold Rule (11/15/2024)

WASHINGTON, D.C. (Nov. 15, 2024) – Today’s decision by the U.S. District Court for the Eastern District of Texas in the case Plano Chamber of Commerce, et al v. DOL is a tremendous win for small businesses. The lawsuit challenged the Department of Labor’s (DOL) overtime rule increasing the minimum salary threshold for exempt employees under the Fair Labor Standards Act’s (FLSA) executive, administrative, or professional exemption (EAP exemption). The Court determined that the rule, which went into effect in July of this year, exceeded the DOL’s statutory authority and should be vacated.

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